Well stated Capitalgain, and I concur with your assessment throughout:
Quote:Well it certainly looked like the side letter played a role, as JBII wasted no time in getting does condensers repaired once that was cancelled.
Really loving that business update, makes perfect sense to get an engineering company of size to take over the building of the processors and both train the staff to run them and run the processors as well.
A well established company with the abilities both financial and technical seems like a win win for all, wonder if they are focusing on the Rock Tenn contract, a great engineering company should be able to roll out the machines for this contract in about 3-4 years, assuming that there will be some kind of licensing agreement in regards to this, then JBII could potentially make a huge sum for nothing really.
RH was really the man for the job, he knew the only way to deal with all the resistance, was to cut the expenditures to the bone and go for a contract like this, this way they need minimal amount to sustain themselves whilst working on closing the contract. they should be able to sustain themselves on $1-2 mil a year with the current staffing.
I applaud the guy and his quick and appropriate decisions, which has no doubt saved JBII, kept the dilution to a min and retained the value of the company/technology for the shareholders.
Thanks RH for doing a great job.
